Re: Capital Release For Budget 2016 Begins Today by malton: 8:01am On May 13, 2016 |
Super news, God bless Nigeria! |
Re: Capital Release For Budget 2016 Begins Today by malton: 8:04am On May 13, 2016 |
omenka: Who cares if you (one person), out of nearly 200million people, don't accept it?? You can remain stuck in the past with garri, tomato, bread and pure water prices while the rest of us leap into the future.
You won't be missed. ![wink](https://www.nairaland.com/faces/wink.png) I doubt if that guy is actually a husband. He just doesn't have love to offer. 1 Like |
Re: Capital Release For Budget 2016 Begins Today by fiizznation: 8:05am On May 13, 2016 |
cckris:
Tell that to APCshit Economic magicians. And also to your Fulani emirs , who, like Buhari himself, send their children to the best schools around the world, & COMPEL others CIRCUMSTANTIALLY into ALMAJIRI, where they can't acquire skills, & then want to make the Arabic they learn relevant in Nigeria. You know even the North Central can't take it anymore.
Your comment up here have nothing to do with the subject of discuss here so don't try to digress or bring some ethnic/religion colouration into it. We are discussing economy here not region, tribe nor religion. You came here telling people that buhari wants to control the price of everything which if I still remember my basic economics, is kind of impossible. I tackled you with a superior argument which was the fact and honest truth. You then suddenly decided to bring ethnicity into the subject matter. My friend you have scored an own goal and have exposed yourself as a bigot. 2 Likes |
Re: Capital Release For Budget 2016 Begins Today by cckris: 8:06am On May 13, 2016 |
fiizznation: My friend what are you saying? That's my number problem with most of you commentators on this forum,you just drop your comments irrationally. Why don't you tell the eastern governors to stop collecting monthly allocations from the central government if you think they can survive without it. Some of you are just annoying to be honest Now, you're ready to learn. Monthly Revenue Allocations is exactly why Nigeria is in Economic doldrums. Nigeria & Nigerians were progressing when there wasn't any Revenue Allocation. Why? Revenues are a Function of something you & Buhari can't figure out. Seize all the monies into a dubious TSA, & you're creating more political nightmares for Buhari's medieval mindset.
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Re: Capital Release For Budget 2016 Begins Today by luvinhubby(m): 8:06am On May 13, 2016 |
omenka: Who cares if you (one person), out of nearly 200million people, don't accept it?? You can remain stuck in the past with garri, tomato, bread and pure water prices while the rest of us leap into the future.
You won't be missed. ![wink](https://www.nairaland.com/faces/wink.png) I wonder you & who are the us & which future you are leaping into with a 74 yr old grand father? 1 Like |
Re: Capital Release For Budget 2016 Begins Today by cckris: 8:12am On May 13, 2016 |
fiizznation: Your comment up here have nothing to do with the subject of discuss here so don't try to digress or bring some ethnic/religion colouration into it. We are discussing economy here not region, tribe nor religion. You came here telling people that buhari wants to control the price of everything which if I still remember my basic economics, is kind of impossible. I tackled you with a superior argument which was the fact and honest truth. You then suddenly decided to bring ethnicity into the subject matter. My friend you have scored an own goal and have exposed yourself as a bigot. Are you presuming you can separate Sociology from the Political Economy? They're all matrixed, even if you're uncomfortable with the FACTS on ground.
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Re: Capital Release For Budget 2016 Begins Today by fiizznation: 8:17am On May 13, 2016 |
cckris:
Now, you're ready to learn. Monthly Revenue Allocations is exactly why Nigeria is in Economic doldrums. Nigeria & Nigerians were progressing when there wasn't any Revenue Allocation. Why? Revenues are a Function of something you & Buhari can't figure out. Seize all the monies into a dubious TSA, & you're creating more political nightmares for Buhari's medieval mindset.
I don't have any problem with regionalism or any of that such things but it just disgusts me when I see learned and educated people hiding behind some silly banner of "economy freedom" to throw shades at people. Besides, implementing regionalism is not even a catalyst for any speedy economy growth of a nation. Some African nations practice it and their story hasn't changed till date |
Re: Capital Release For Budget 2016 Begins Today by luvinhubby(m): 8:20am On May 13, 2016 |
malton:
I doubt if that guy is actually a husband. He just doesn't have love to offer. To who, APC? Nah! They are fraudulent. |
Re: Capital Release For Budget 2016 Begins Today by fiizznation: 8:24am On May 13, 2016 |
cckris:
Are you presuming you can separate Sociology from the Political Economy? They're all matrixed, even if you're uncomfortable with the FACTS on ground.
A wise man from the east once told me that if I live in a glass house I shouldn't throw stones. I will leave you with this wise words my friend |
Re: Capital Release For Budget 2016 Begins Today by omenka(m): 8:25am On May 13, 2016 |
malton:
I doubt if that guy is actually a husband. He just doesn't have love to offer. He might be. Lots of things frustration and a fatal gamble could do o one's psyche. |
Re: Capital Release For Budget 2016 Begins Today by cckris: 8:35am On May 13, 2016 |
fiizznation: I don't have any problem with regionalism or any of that such things but it just disgusts me when I see learned and educated people hiding behind some silly banner of "economy freedom" to throw shades at people. Besides, implementing regionalism is not even a catalyst for any speedy economy growth of a nation. Some African nations practice it and their story hasn't changed till date Revenue Allocations is why Nigeria is RETROGRESSING.
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Re: Capital Release For Budget 2016 Begins Today by BrainnewsNg(f): 8:39am On May 13, 2016 |
Anasko: Senator Udo Udoma, Minister of Budget and National Planning, on Thursday, said that the Federal Government would begin capital releases for the 2016 budget today. Analysts say implementation of the 2016 budget may inject the funds needed to lift Nigerian economy from the current level. The minister spoke while giving a breakdown of the 2016 Budget of Change at the Presidential Villa, Abuja. “By tomorrow, some releases would be made. We are ready to start releases as far as the budget is concerned,” said Udoma, adding that his ministry intends to work closely with the Federal Ministry of Finance to ensure cash backing of the capital projects. “The 2016 budget would run concurrently until May next year as government intends to return to the January to December financial year, the minister said in a question and answer session. “We intend to take the budget to where it ought to be, the January to December financial year, which is much better for implementation. So for the next year’s budget we intend to get it to the National Assembly so that it is passed by the year end,” he said. This is even as the budget minister said the 2016 budget would include six strategic areas such as economic diversification, critical infrastructure and reforms in the oil and gas sector. Others, he said, include ease of doing business, policy, environment, national security and governance, and social investment. “The Strategic Implementation Plan forms the basis for the preparation and implementation of the 2016 budget, as it documents the key short-term priorities of the incumbent administration to place the economy on this upward trajectory as it is repositioned for change, inclusive growth and sustainable development,” Udoma said. A breakdown of the 2016 budget projections shows that the fiscal document envisages a net distributable revenue of N5.72 trillion, comprising main federation account revenue of N4.303 trillion and N1.416 trillion from the value-added tax pool account. Of the distributable revenue, net oil receipts amount to N1.48 trillion or 25 percent while net non-oil revenue accounts for the balance of N4.22 trillion or 75 percent. The states and local governments’ share of the distributable pool amount to N3.24 trillion while the Federal Government would receive N2.48 trillion. The Federal Government’s budgeted revenue is projected at N3.855 trillion largely contributed by the internally generated revenue (IGR) of N1.51 trillion, which is 35 percent increase over the N2.855 trillion for the 2015 budget. Federal Government’s revenue is mainly to be derived from the growth in non-oil resources from corporate tax; VAT and dividends from government corporations and independent revenue. A projection of N1.88 trillion was made on corporate taxes in the 2016 budget as against N1.42 trillion in 2015, and VAT collection of N1.48 trillion in 2016 from N1.28 trillion last year. Provisions for expenditure of the N6.06 trillion 2016 budget shows a 35 percent increase over the 2015 budget of N5.067 trillion. Statutory transfer (inclusive of N157 billion- capital component) is put at N352.37 billion, debt servicing including sinking fund of N1.48 trillion, recurrent (non-debt) expenditure is put at N2.65 trillion. Capital expenditure (excluding share of capital in statutory transfers) is put at N1.59 trillion while the capital expenditure (including share of capital expenditure in statutory transfer) is put at N1.7 trillion. Some key allocations in the 2016 budget are Ministry of Power, Works and Housing, N456.93 billion; Transpiration, N202.34 billion; Defence, N443.07 billion; Interiors, N513.65 billion; Education, N403.16 billion and Health, N250.06 billion. Others are Agriculture and Rural Development, 75.80 billion; Solid Minerals, N16.73 billion; Youth and Sports Development, N75.79 billion; Water Resources, N53.30 billion and special intervention programmes of N500 billion. The budget is predicated on an oil production benchmark of 2.2 million barrels per day at $38 per barrel and an exchange rate of N197 to a dollar. Udoma said government plans to actively support the use of public private partnerships in the development of infrastructure and encourages ministers to explore concessioning arrangements for airports, major roads and other infrastructure projects. The government, he said, was working to raise $25 billion for the establishment of an infrastructure fund within three years. Among priority projects listed for implementation by government are dualisation of the Kano-Maiduguri Road (sections I-V) for N13 billion; Lagos-Ibadan Expressway (section1) for N40 billion; N1.1 billion for the generation of 700mw from Zungeru Hydro Power Project; N18.3 billion for the completion of Abuja (Idu) – Kaduna 186.5km single track rail line; N60 billion counterpart funding for Lagos- Kano Standard Gauge rail line and N60 billion counterpart funding for Calabar-Lagos Standard Gauge rail line.
http://independentnig.com/economy-to-rebound-as-fg-begins-capital-release-today/
Good but till then |
Re: Capital Release For Budget 2016 Begins Today by ybalogs(m): 8:47am On May 13, 2016 |
We live On hope steadily hoping things will turn around for good. Let's just believe and pray. I know by the special grace of God, we won't be letdown by PMB. God bless Nigeria and Nigerians. |
Re: Capital Release For Budget 2016 Begins Today by asha90: 8:52am On May 13, 2016 |
Buhari is a bitter bigot, though he made available funds in the budget for the continuation of the Onitsha 2nd Niger bridge. ![cheesy](https://www.nairaland.com/faces/cheesy.png) AtlanticBreeze:
some of you amaze me the way you reason. Are our senators now the bigoted Buhari and Fashola that are punishing igbos for not voting their useless government? Atleast those from the south east that supported this useless government can now see clearly.. Let Buhari do his worst. No regret for not voting the dullard 1 Like |
Re: Capital Release For Budget 2016 Begins Today by greatiyk4u(m): 8:53am On May 13, 2016 |
jcross19: Kai baba!!!!!!!!!!!!. It took our president 4months to have his cabinets in place,10months to sign a budget then how long do yo think he will take him to deliver a single project? But only take him some minutes to jet out the country.
Buhari is whipping our economy with his archaic approach . Just hope this economy won't die finally. Too much of burukutu is dangerous to your health mr bubu.
Even nairaland is feeling the change . How long did it take him to build a helipad in daura? He will use same speed in doing others |
Re: Capital Release For Budget 2016 Begins Today by spartanobad(m): 8:55am On May 13, 2016 |
It's still picking ehhh
LET IT STAND ERECT |
Re: Capital Release For Budget 2016 Begins Today by Nobody: 8:56am On May 13, 2016 |
cckris:
The proudly 5% is CONSISTENTLY DEMANDING a well-structured Economic ground for all Nigerians to thrive, at their own pace. Other regions INSIST on Govt-controlled, actually SOCIALIST, development even in arid unEconomic places. Eastern Leaders have never been known to be asking for these unEconomic handouts that usually fizzle when the sponsor Govt is no longer in office. Please don't join the shallow brains to argue irrationally.
You are asking for a capitalist economic system.....and at the same time opposing the removal of the fuel subsidy....which supports a capitalist system. Also, you are saying that states should stop asking for hand-outs? Most of your eastern states (with the exception of Anambra) would be broke in minutes. |
Re: Capital Release For Budget 2016 Begins Today by Nobody: 8:56am On May 13, 2016 |
hungryboy: Which economy wan pick up?,
na the garri were be 3 cup 100naira now, abi the fuel were be 145naira, Abi na the dollars were dey near 400naira? Bros, na to dey send you money make you dey buy garri send for me sure pass! ![cheesy](https://www.nairaland.com/faces/cheesy.png) My Area one cup of garri is #60 |
Re: Capital Release For Budget 2016 Begins Today by whitebeard(m): 8:58am On May 13, 2016 |
all of u are making sense I dont know who to accuse (pmb supporters or haters) still confused ![](/faces/huh.png) |
Re: Capital Release For Budget 2016 Begins Today by rottennaija(m): 8:58am On May 13, 2016 |
jcross19: Kai baba!!!!!!!!!!!!. It took our president 4months to have his cabinets in place,10months to sign a budget then how long do yo think he will take him to deliver a single project? But only take him some minutes to jet out the country.
Buhari is whipping our economy with his archaic approach . Just hope this economy won't die finally. Too much of burukutu is dangerous to your health mr bubu.
Even nairaland is feeling the change . Don't be pessimistic... Be optimistic and hopeful |
Re: Capital Release For Budget 2016 Begins Today by onatisi(m): 8:59am On May 13, 2016 |
cckris: Buhari has AMBUSHED the entire economy by removing subsidy at a time Demand for Forex will hit 400 naira for 1 dollar.
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Re: Capital Release For Budget 2016 Begins Today by rozayx5(m): 8:59am On May 13, 2016 |
BushidoBlue: [size=18pt]How can something yet to be implemented be "seen to pick up"?
[/size] its called propaganda, thats why Information Ministry has a large budget, the economy is now like a mad man picking things up from the street to eat ![undecided](https://www.nairaland.com/faces/undecided.png) 2 Likes |
Re: Capital Release For Budget 2016 Begins Today by jaybee3(m): 9:01am On May 13, 2016 |
cckris:
Market PRICE is more powerful than propaganda. The cost of shipping Tomatoes from Katsina to Lagos will determine retail price, when other prices are escalating because of Buhari's personal desire to CONTROL & COMMAND every Nigerian like a battalion commander. The masses on the street will chase Buhari out of Nigeria if he doesn't CHANGE his medieval mindset.
So the cost of production doesn't determine market price right? So the policies formalised to help stimulate the agric sector won't help the cost of production? If they fix the rail transport system and increase tomato paste production, it still won't help? Some of you are just impossible 1 Like |
Re: Capital Release For Budget 2016 Begins Today by Acutex: 9:01am On May 13, 2016 |
Pictures of the Economy bending down and picking something up if not, I relegate this news to the "masquerade" folder... |
Re: Capital Release For Budget 2016 Begins Today by willibounce1(m): 9:04am On May 13, 2016 |
Economy seen picking up paper at ojuelegba market or sambisa forest. This people are comedians. Small time economy will.be seen doing press up. |
Re: Capital Release For Budget 2016 Begins Today by onatisi(m): 9:04am On May 13, 2016 |
cckris: Buhari has AMBUSHED the entire economy by removing subsidy at a time Demand for Forex will hit 400 naira for 1 dollar.
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Re: Capital Release For Budget 2016 Begins Today by cckris: 9:13am On May 13, 2016 |
Quakertellicus1:
You are asking for a capitalist economic system.....and at the same time opposing the removal of the fuel subsidy....which supports a capitalist system.
Also, you are saying that states should stop asking for hand-outs? Most of your eastern states (with the exception of Anambra) would be broke in minutes. FREE ENTERPRISE system isn't entirely ideological. Is it?Buhari just AMBUSHED the Nigerian Economy by removing fuel subsidy at the wrong time, when Forex rate is ESCALATING, & PRICES are rising from day to day.
On Revenue Allocations, history can help, because Nigeria & Nigerians were PROGRESSING better without it. This isn't the topic to show that Governors run wild because nobody can challenge their Spending, because the monies are not DERIVED from the voters. Looting continua.
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Re: Capital Release For Budget 2016 Begins Today by Nobody: 9:13am On May 13, 2016 |
We can't take this shiiit at all, they even want to have toll gates In every road repaired, what a corrupt government , high electric billings, increase in fuel prices , food stuffs mehn this is too much for common man, buhari go back to your cattle, nigerians are not cattle biko we are not cow. I'm going out now I dey feel their stupid change, increase in fares.. Aha this one na strong thing... Buhari diaris God o |
Re: Capital Release For Budget 2016 Begins Today by TPAND(f): 9:13am On May 13, 2016 |
DOING WHAT THEY KNOW HOW TO DO BEST
Usual Lies and Propaganda |
Re: Capital Release For Budget 2016 Begins Today by jcross19: 9:15am On May 13, 2016 |
greatiyk4u:
How long did it take him to build a helipad in daura?
He will use same speed in doing others can you see that? That's what we call selfish leader. He did that without a budget right but if you complain they will tell you that budget have not been passed now it has been passed let's see. |
Re: Capital Release For Budget 2016 Begins Today by DiamondMeg(f): 9:15am On May 13, 2016 |
How come so much money budgeted for interior & less for Health? What does Inteerior Mean? Is it most important than health? Pls someone should educate me on this Issue. Thanks. |
Re: Capital Release For Budget 2016 Begins Today by biodun83L(m): 9:16am On May 13, 2016 |
jcross19: Kai baba!!!!!!!!!!!!. It took our president 4months to have his cabinets in place,10months to sign a budget then how long do yo think he will take him to deliver a single project? But only take him some minutes to jet out the country.
Buhari is whipping our economy with his archaic approach . Just hope this economy won't die finally. Too much of burukutu is dangerous to your health mr bubu. And to u now, u av spoken just remeber one thin is old enough to b ur grand father.
Even nairaland is feeling the change . |